#SPX1dte #RiskReversal Sold to close HALF of position: $SPX Jun 23rd 4450/4470 call spreads for 5.00. Risk reversals entered last Friday for -.30 debit. Saving second half at least into tomorrow, possibly for next week.
Monthly Archives: June 2023
SPX stopped
#SPX1dte Bought to close $SPX Jun 15th 4405/4425 call spreads for 3.75. Super frustrating. Puts my week in the negatiuve, not counting my long call spreads which are in profit about 3.50. Stop hit, but couldn’t get decent pullback so ended up chasing higher.
I want to switch back to selling in afternoon to get wider on these condors. It has been awhile since we’ve had any large overnight moves, and I have been unable to reach the 3.00 per week target again since my April/May drawdown.
And of course, as soon as I’m forced out, the pullback begins in earnest.
SPX same day
#SPX1dte Sold to Open $SPX Jun 15th 4285/4305-4405/4425 condors for 1.05, deltas -.07 +.05, IV 24.2%
F SOXL
SOLD F 23 JUN 2023 13.5 PUT @.09
SOLD SOXL 16 JUN 2023 24.5 PUT @.30
SOLD SOXL 16 JUN 2023 24.5 PUT @.27
SOLD SOXL 16 JUN 2023 23 PUT @.10
No Comment
SPY XBI
#ShortPuts #CoveredCalls – A few.
SPY: Had to go out ot Aug to avoid divvy risk this week on the calls. The divvy and upside gained on the calls is better than going back to cash in SPAXX so I’ll keep the stock for now. Got some decent fills on the dip. Re-loaded a few puts as well.
Rolled SPY JUN 16 2023 392.0 Call to AUG 18 2023 395.0 Call @ .70 credit (13.60 total now)
Rolled SPY JUN 16 2023 395.0 Calls to AUG 18 2023 399.0 Calls @ .05 credit (12.00 total now)
Rolled SPY JUN 16 2023 396.0 Calls to AUG 18 2023 400.0 Calls @ .10 credit (12.10 total now)
Rolled SPY JUN 16 2023 397.0 Calls to AUG 18 2023 400.0 Calls @ .75 credit (13.25 total now)
Sold SPY JUN 23 2023 430.0 Puts @ 1.70
Sold SPY JUL 07 2023 425.0 Put @ 2.25
XBI: One add.
Sold XBI JUL 21 2023 85.0 Put @ 1.90
SPX put spread
#SPX1dte Sold to Open $SPX June 14th 4320/4300 put spreads for .95, filled at 10:16am, delta -.09
I’m expecting a rise higher after Fed announcement, so I may only sell put side today.
SPY
#ShortPuts – Taking these pre Fed. Hoping to reload on some big fluctuations after.
Bought to Close SPY JUN 16 2023 426.0 Puts @ .25 (sold for 1.72)
VXX SOXL LABU CMA ZION
Sold 1 VXX Jun 16 2023 31.0 Call at $0.24
Sold SOXL Jun 16 2023 27.0 Calls at $0.48 and $0.53
Sold LABU Jun 16 2023 8.0 Calls at $0.10, $0.11 and $0.12
Sold CMA Jun 16 2023 36.5 Puts at $0.37
Sold 1 ZION Jun 16 2023 27.0 Put at $0.49
Sold ZION Jun 16 2023 26.50 Puts at $0.25 and $0.42
SPX long positions
#SPX1dte Sold to close HALF of position: $SPX June 16th 4450/4470 call spreads for 1.20. #RiskReversal entered on June 5th for -.30 debit. I’ll make a decision later today on how long to hold second half, since this expires Friday.
I have the same long spread for June 23rd expiry, also a R/R entered for -.30 debit. Currently trading at +2.50, so I’ll give it room to grow.
SPX same day
#SPX1dte Sold to Open $SPX June 13th 4280/4300-4400/4420 condors for 1.10, deltas -.09 +.05, IV 24.5%.
Sold four and a half minutes after CPI data release.
CPI year over year was +4.0%, as expected. A pause in interest rate hikes is expected in tomorrow’s announcement.
AMD Put
#shortputs
$AMD STO 6/16 126 put at 2.77. Looking to acquire stock at today’s low, or pocket the cash.
SPX stopped
#SPX1dte More evidence we should close legs when it’s cheap and market is showing directional bias. This surge over the last hour hit my stop, so bought to close $SPX Jun 12th 4345 calls for .30.
I think it is probable that we’ll see a strong day tomorrow, after the CPI report is released. The report will likely be a lower number, reflecting the downward trend, and it should signal a dovish Fed decision on Wednesday. I have two long positions that would benefit, and I’ll decide how to trade the same-day based on the reaction.
New highs
$SPX just broke through the high of last August. We are now at the highest level since April 2022. Next stop is 4,637.30 high from March 29, 2022.
SNOW TLT
#ShortPuts – A couple adds.
Sold SNOW JUL 07 2023 150.0 Put @ 2.19
Sold TLT JUN 16 2023 104.0 Put @ 2.60
AI Put Close
#shortputs
$AI BTC 6/16 30 put at .20. STO 6/1 at 2.15
SPX same day
#SPX1dte Sold to Open $SPX Jun 12th 4250/4270-4345/4365 condors for .90, deltas -.07 +.06 IV 18.2%
SPY
Sold a tiny bit of SPY at it’s old 52-week high of $431.73
Bought on 09/30/2022 at $357.15
Have 1 more tiny bit at $349.43
Expirations
#optionsexpiration
$RIOT 12 call
$CROX 113call
$CROX 123call
$U 37.5 call
SPX BUCS
#bucs
$SPX BTO 6/16 4375/4385 BUCS at 1.30
SPY
#ShortPuts #TakeOneForTheTeam – C’mon Mr. Market. Here ya go. Selling this week’s low for next week.
Sold SPY JUN 16 2023 426.0 Puts @ 1.72
TLT XBI
#ShortPuts #CoveredCalls #SyntheticCoveredCalls – Letting go of XBI stock this week and probably SPY next week (unless we have a massive selloff). With SPAXX money market (Fidelity cash sweep) paying close to 5 percent cash is king. Layer a little put selling on top of that and continue building a long bond position for the inevitable rate cuts.
TLT: A variety pack. Covered, synthetic covered, and adding to short puts.
Bought to Close TLT JUN 09 2023 103.0 Calls @ .01 (sold for .59 and .74)
Bought to Close TLT JUN 09 2023 103.5 Calls @ .01 (sold for .57)
Sold TLT JUN 16 2023 104.0 Calls @ .28
Sold TLT JUN 16 2023 103.0 Put @ 1.34
Sold TLT JUN 16 2023 104.0 Put @ 2.08
XBI: Goodbye and hello.
Stock will be called @ 79.50 (basis 75.25 and many many calls sold against) Thanks old buddy!
Sold XBI JUL 21 2023 85.0 Put @ 2.00
================================================================
“Bonds should once again offer hedge and diversifying potential in portfolios that have riskier allocations, given the considerable room for rates to rally in the event of a growth shock and/or if the Fed pivots and eases, as well as the yield cushion being a multiple of years prior.”
https://www.nasdaq.com/articles/the-great-yield-reset-bond-etfs-and-the-generational-opportunity-in-fixed-income
SPX down and out
#SPX1dte Well, that kinda blew up in my face… it was only a glancing blow but sucks nonetheless. BTC 4290/4270 put spreads for 2.50.
Today will likely be one where I was stopped out on both ends but the day will end safely in between… however, it’s only because I tried the #ReverseRoll. But it reduced my week from being best in 4 months to just being average.
Last Friday made my week, this one torpedoed it.
BIZD XYLD XRMI GOF XRMI LABU SOXL
#raisingcash
#waiting for next leg down
SOLD BIZD @15.16
SOLD XYLD @41.25
SOLD XRMI @20.77
SOLD XRMI @20.54
—
#dividendcapture
Monday is ex div day
BOT GOF @15.8299
—
#shortputs
STO LABU 16 JUN 2023 6.5 PUT @.13
STO SOXL 16 JUN 2023 20 PUT @.25
TQQQ,
FYI, I have been selling the January 2025 40 puts, cost now is 12.37 and buying the 40 calls with the premium cost now is 9.38 so I have an 18 month trade for this to work and worst case is that I own the stock at $40 in 2025.If we get a real bull market before 2025 I will be happy.
SPY,
STO July 28, 395 puts at 1.31
SPX stopped
#SPX1dte. Bought to close call side for 1.30. Stop not yet hit when I closed this, but I’m not letting a Friday ruin a good week. $TICK has been below zero most of the day but $VIX dropping and $SPX moving higher. This may be the start of the rally we’ve been waiting for.
Looking to enter a couple more bullish positions, maybe another put spread for today and another long term #RiskReversal since the one I bought on Monday is fizzling out.
SPX same day
#SPX1dte Sold to Open $SPX Jun 9th 4235/4255-4335/4355 condors for .85, deltas -.06 +.05, IV 19%
#raisingcash SOLD EPD @26.31 #to…
EPD
#raisingcash
SOLD EPD @26.31
#to the moon Alice
Been sitting on my hands this week
market can reverse gears anytime now!
SPX risk off
#SPX1dte Bought to close $SPX Jun 8th 4310 calls for .10. Got a good week going so not gonna let a surprise move ruin it.
XBI
#ShortPuts – Letting the last of my stock get called this weekend. Been in this thing for 18 straight months now so a small placeholder just to stay involved and hopefully be able to averge down to a bigger position.
Sold XBI JUL 21 2023 85.0 Puts @ 2.14 and 2.19
VXX
Falling hard here. Closing some long puts approaching expiration
Sold to close VXX 06/16/2023 28.0 Puts at $0.68, $0.72 and $0.76
Bought at $0.03 in late April and early May
Sold to close 1 VXX 06/16/2023 27.0 Put at $0.34
Bought at $0.03 in early April.
Sold to close 1 VXX 06/16/2023 26.0 Put at $0.11
Bought at $0.03 in early April.
New long Puts
Bought VXX Sep 15 2023 15.0 Puts at $0.04
Bought VXX Aug 18 2023 17.0 Puts at $0.03 and $0.04
Bought VXX Jul 21 2023 21.0 Puts at $0.04
#VXXContang0
SPX same day
#SPX1dte Sold to Open $SPX Jun 8th 4210/4230-4310/4330 condors for .95, deltas -.07 +.06, IV 19.4%
UVXY finally reverse splitting
Along with $VIXY and $BOIL
https://www.proshares.com/press-releases/proshares-announces-etf-share-splits
$UVXY 1:10 reverse split effective as of 6/23.
Trades
Sold 1 CMA 06/09/2023 44.5 Call at $0.73
Sold 1 ZION 06/09/2023 32.5 Call at $0.15
Sold 1 SOXL 06/09/2023 24.0 Call at $0.27
Bought to close VXX 06/09/2023 38.0 and 39.0 Calls at $0.02
Sold VXX 06/09/2023 31.0 Calls at $0.19, $0.20, $0.21, $0.24 and $0.25
#DoubleDip
Sold VXX 06/16/2023 33.0 Calls at $0.47
PNR WHR ESS AVB stocks
Lightening up on some OLD tiny stock positions:
Sold out of PNR at $60.48 and $60.85, just pennies from the 52-week high.
Bought in March, May and September 2022 at $54.00, $48.00 and $42.45
Sold WHR at $144.60. Bought in September 2022 at $139.53.
Sold ESS at $231.01. Bought in October and November 2022 at $230.00 and $$207.00
Sold AVB at $185.78. Bought in October 2022 at $175.00
#FormerFallingKnife #RaisingCash
SPX risk off
#SPX1dte Bought to close put side for .10… my stop was not hit but it got close, so taking risk off as I will be away from computer into close. Profit for day is 1.15.
SNOW
#ShortPuts – Back in again. Selling at the expected move and near the 50 day.
Sold SNOW JUL 07 2023 150.0 Puts @ 2.25
SPY
#ShortPuts – Not adding but rolling up aggressively. C’mon Mr. Market!
Rolled SPY JUN 30 2023 405.0 Put to JUN 30 2023 420.0 Put @ 1.75 credit (5.35 total now)
Rolled SPY JUN 30 2023 405.0 Put to JUN 30 2023 425.0 Put @ 3.15 credit (6.75 total now)
U CROX Call
#coveredcalls
$U STO 6/9 37.50 call at .41
$CROX STO 6/9 123 call at 1.50
SPX same day
#SPX1dte Sold to Open $SPX June 7th 4230/4250-4320/4340 condors for 1.25, deltas -.09 +.07, IV 18.9%
This is more aggressive on deltas to get some premium. Tight range established last couple of days needs to continue for this trade to succeed.
AI Strangle
#shortstrangles
$AI STO 6/9 33/37.50 at $2.15
SPY XBI
#ShortPuts – Taking a lot of risk off.
SPY:
Bought to Close SPY JUN 16 2023 405.0 Put @ .30 (sold for 3.00)
Bought to Close SPY JUN 16 2023 410.0 Put @ .44 (sold for 4.10)
Bought to Close SPY JUN 23 2023 405.0 Put @ .55 (sold for 4.05)
XBI:
Bought to Close XBI JUN 16 2023 80.0 Puts @ .13 (sold for 1.30)
SOXL
Sold SOXL Jun 16 2023 17.5 Puts at $0.18 and $0.19
Offsetting this week’s short calls in SOXL
SPX same day
#SPX1dte Sold to Open $SPX June 6th 4215/4235-4310/4330 condors for .90, deltas -.07 +.05, IV 19.3%.
The IV for today’s chain was only 12.9% before the close yesterday. That extra IV that comes in overnight is why these morning trades have been the better bet. But now that the market isn’t swinging much overnight the choice is tougher. For the same premium 15 minutes before yesterday’s close, I could have gotten 5 more points on put side and 10 more on call side (-.06 +.06 deltas)
Upside Warning in effect
#VIXindicator An Upside Warning went into effect at the close on Monday, meaning probable upside to the market in coming days or weeks. This one comes after the previous UpW was canceled on May 2nd, but no Downside Warning resulted. The market chopped around for a month but stayed fairly strong.
Trades
Sold BOIL Jun 16 2023 3.0 Covered Calls at $0.12
Sold BOIL Jun 23 2023 3.5 Covered Calls at $0.05
Sold 1 KRE Jun 09 2023 39.0 Put at $0.15
Sold 1 KRE Jun 09 2023 38.5 Put at $0.11
Sold LABU Jun 09 2023 7.5 Calls at $0.06
Sold 1 TGT Jun 09 2023 125.0 Put at $0.46
Sold UVXY Jun 23 2023 4.0 Covered Calls at $0.07
Sold VXX Jun 09 2023 34.0 Covered Calls at $0.30 and $0.33
Sold 1 VXX Jun 09 2023 35.0 Covered Call at $0.23
Sold VIXW Jun 07 2023 17.0 Calls at $0.25 and $0.32
SPXpire
#SPX1dte Today’s same-day trade expiring, sold this morning for 1.05. It still looks like a better bet to sell in the morning, as afternoon trades give slightly LESS premium per delta, and only 5 to 10 points of extra width.
CROX Call
#coveredcalls
$CROX STO 6/9 113 call at 1.12
TSLA Call
#syntheticcoveredcalls
$TSLA STO 6/9 230 call at 1.34
SPY,
STO July 14, 390 puts at 1.01
Risk Reversal
#SPX1dte Adding a longer term bullish position:
Sold to open $SPX Jun 16th 4075/4055 put spreads
Bought to open $SPX Jun 16th 4450/4470 call spreads
Net DEBIT .30
I’ll use expected move for the put side stop-out, which is currently 91 points, so SPX 4166. I’ll look for 5.00 or more if we fly up this week, but lower my goal if we stall out or rise slowly.
SPX same day
#SPX1dte Sold to Open $SPX Jun 5th 4220/4240-4320/4340 condors for 1.05, deltas -.07 +.07, IV 19.8%
#optionsexpiration F 12 put sto…
F 12 put sto @.23 avg
LABU 6 put sto@.24
#assignment
SOXL 12 calls
could not roll for credit, start wheel over with cash.
SPX profit
#SPX1dte Sold to close the remaining call spreads for 5.00 and 6.00, with a few contracts expiring for 0.00. My main account saw composite profit of 2.78 on the trade.
Tough decisions being long when high of day and close are ATM. Obviously sold the first half too cheaply but you can only say that in hindsight. I have tried these trades many times and this is a rare time I was correct about the move and how far it would go.
LABU Calls
Rolled LABU May 02 2023 6.0 Calls out a week at $0.12 Credit
Rolled LABU May 02 2023 6.5 Calls up to LABU May 09 2023 7.0 Calls at $0.02 Credit
#OnlySpreads
SPY
#ShortPuts – Taking these a couple weeks early.
Bought to Close SPY JUN 16 2023 395.0 Put @ .26 (sold for 3.00)
Bought to Close SPY JUN 16 2023 400.0 Put @ .33 (sold for 3.01)
TLT
#ShortPuts – Adding.
Sold TLT JUN 16 2023 104.0 Puts @ 2.00
SPY
#ShortPuts – Bought to Close SPY JUN 09 2023 415.0 Put @ .33 (sold for 5.60)
TEL VZ Stock
Sold my last tiny bit of TEL at $126.01 Bought on 06/16/2022 at $115.91.
#FormerFallingKnife
Added to my tiny position in VZ on the open at 34.43. Div = 7.3%
#FallingKnife
VIX Puts
Sold 1 VIX Jun 21 2023 15.0 Put Net Credit at $0.23
Buy to Open 1 Contract VIX Jun 21 2023 13.0 Put at $.03 for a $0.20 Credit
Lock in
#SPX1dte Sold to close HALF my long call spreads for 2.20. This locks in +.95 of profit on the whole trade. I’m going to give it time now to see if we can reach the 4285 short strike.
SOXL Calls
Bought to close SOXL Jun 02 2023 18.0 Diagonal Calls at $3.95. Sold last week on a roll at $4.58
Rolled out to SOXL Jun 09 2023 18.0 Calls at $4.00
Bought to close 1 SOXL Jun 02 2023 19.0 Diagonal Call at $3.10. Sold last week on a roll at $3.40
Rolled out to 1 SOXL Jun 09 2023 19.0 Call at $3.25
Bought to close 1 SOXL Jun 02 2023 20.0 Diagonal Call at $1.70. Sold last week on a roll at $3.15
Rolled up to 1 SOXL Jun 09 2023 20.5 Call at $1.72
Bought to close 1 SOXL Jun 02 2023 24.0 Diagonal Call at $0.01. Sold at $0.76
Bought to close 1 SOXL Jun 02 2023 24.5 Diagonal Call at $0.01. Sold at $0.62
Bought to close 1 SOXL Jun 02 2023 25.0 Diagonal Call at $0.01. Sold at $0.58
May Jobs Report
#Jobs — Higher than expected again. And a gain of +94K in prior month revisions.
Gain of +339,000 non-farm payroll jobs, vs. expected gain of 190K
Unemployment up by 0.3 to 3.7%, higher than expected gain to 3.5%
U6 unemployment 6.7%, up by 0.1
Labor force participation 62.6%, unchanged
Average hourly earnings up by 0.3%; 4.3% increase over the year, 0.1 less than expected.
March jobs revised up by +53K to +217K
April jobs revised up by +41K to +294K
VIX Index
A new 52-week low in the VIX this morning at 15.07
Taking a shot
#SPX1dte After losing the week’s profits yesterday on the rip higher, I’m taking a shot today that the jobs report will release us to go even higher, now that debt ceiling is resolved. Went with #RiskReversal for upside.
Sold to Open $SPX June 2nd 4185/4165 put spreads
Bought to open $SPX June 2nd 4285/4305 call spreads
Total DEBIT -0.15
deltas -.07 +.05
VXX Calls
Bought to close VXX Jun 02 2023 44.0 Covered Calls at $0.01. Sold Tuesday at $0.14
Rolled down for a #DoubleDip Trade
Sold VXX Jun 02 2023 34.0 Calls at $0.18
TTD Call
#coveredcalls
$TTD STO 6/2 76 call at .18
Rolling VFC
Once again rolling this down
Bought 1 VFC Jun 02 2023 18 Put / Sold 1 VFC Jun 09 2023 17.5 Put at $0.05 Credit
Also Sold to Open 1 VFC Jun 09 2023 16.0 Put at $0.21 for next week
#OnlySpreads
ATVI Stock
I had a lot of patience with this one because Microsoft said they were going to buy them out.
Not so much. 😦
Liquidated my tiny position in ATVI at $80.90.
Bought twice in November 2021 at $65.88 and at $60.00.
Made an OK return of about 28% over about a year and a half
#FormerFallingKnife #RaisingCash
SPX stopped
#SPX1dte BTC call side for 2.00
Pretty deep dip in $VIX happening, could finally be the push higher that debt ceiling resolution will trigger.
SYY Put
Bought to close 1 SYY Jun 02 2023 69.0 Put at $0.05. It can’t trade any lower.
Sold Tuesday at $0.30
VIX Iron Condor
Bought to Open 1 VIXW Jun 07 2023 14.0 Put at $0.02
Sold to Open 1 VIXW Jun 07 2023 16.0 Put at $0.32 for a $0.30 Credit
Bought to Open 1 VIXW Jun 07 2023 31.0 Call at $0.05
Sold to Open 1 VIXW Jun 07 2023 21.0 Call at $0.19 for a $0.14 Credit
#OnlySpreads
SPX same day
#SPX1dte Sold to Open $SPX June 1st 4120/4140-4225/4245 condors for 1.05, deltas -.06 +.07
Options Bistro 